Planned layoffs surge in July, report says

Planned layoffs surge in July, report says

http://www.usatoday.com/money/economy/employment/2003-08-05-challenger_x.htm

NEW YORK (Reuters) — The number of job cuts announced by U.S. employers surged 43% in July after a two-month decline, a report said Tuesday, suggesting a rebound in the job market may not happen until the end of the year.
Planned layoffs at U.S. firms shot up to 85,117 in July from 59,715 in June, job placement firm Challenger Gray & Christmas said. Job cuts so far in 2003 total 715,649, only 12% lower than in the same period last year.

The report said job hunters can expect an average of 20 weeks to find a job that may not match their last salary.

"Employers have all the cards," said John Challenger, chief executive of Challenger. "Not only are they sharpening their pencils, but the screening of candidates is probably the toughest it has ever been."

-- snip --

I heard Hannity on the way home from work today. His views are that job are leaving becuase of the "strong labor unions" in this country.
Obviously, he doesn't want to bring up the WTO, NAFT or the soon to be deployed CAFTA ....

I'm glad to see some of the candidates starting to discuss this.

In Your Dreams!

I've been unemployed for three years now. These folks must be on drugs. It is the only answer to this unending denial regarding the US economy.

By Ed Garvey
August 5, 2003


"I thought the news that 556,000 people left the labor force last month was bad news. The Bush spin is that the labor force "thinned" last month, whatever that means. The fact is that 44,000 jobs disappeared in July; that's after 70,000 vanished in June. In the period since George W. Bush came into office, 2.6 million jobs have been lost. Food pantries are full, homeless shelters are overcrowded, consumer debt would scare anyone. Why am I not happy? The president is. "

http://www.madison.com/captimes/opinion/column/guest/54132.php

"Lincoln Cutting More Jobs
Earlier Cutbacks Left Hartford Lean

August 5, 2003
By MATTHEW LUBANKO, Courant Staff Writer

Lincoln National Corp., plagued by a prolonged slump in its annuity and life insurance businesses, announced plans Monday to slash 600 to 800 more jobs nationally - on top of 200 announced earlier this year.

The Philadelphia-based company employs about 5,600, including 706 in downtown Hartford.

snip

http://www.ctnow.com/business/hc-lincoln0805.artaug05,0,2179995.story?coll=hc-headlines-business

I cannot stand the "bs" that I hear from shrub when he say's "all is fine"....recession ended a year ago.

>>His views are that job are leaving becuase of the "strong labor unions"

I don't like Hannity, but in this case he is right...those damn unions just *refuse* to make the workers do 70-80 hours per week at 10cents an hour...if they ain't gonna compete head-to=head with the chinese peasants living in huts, what do they expect?? I don't feel sorry for those f'ing union folks...

</sarcasm>

I thought employment numbers were going up slightly.

I guess this is further proof that Bush might be toast come the next election.